EDN: LHPNTV
DOI: https://doi.org/10.65891/2949-1983-2024-20-3-31-34
Authors:
AYUPOV Aidar Ayratovich (Kazan (Volga Region) Federal University)
GATAULLIN Marsel Salikhzyanovich (Kazan (Volga Region) Federal University)
Abstract.
Restrictions on Western investments caused by the sanctions pressure on the Russian financial market necessitate the search for financial resources from "friendly" countries, among which the countries of the Islamic world occupy a significant place. It is obvious that the "blind" copying of the experience of Islamic finance will not find full application in our reality, however, through financial modeling, i.e. financial engineering, it is possible to adapt these tools for the purpose of attracting investments into the domestic economy. The proposed study examines the features of the use of Islamic finance tools in the domestic economy, in particular, the basic concepts and features of the implementation of the interest–free loan agreement - "card al–Hassan", as well as the advance financing agreement - "salam" through Islamic financial institutions - target loan funds and Islamic banks. The implementation of the Card al-Hassan agreement contributes to the development of entrepreneurship not only in particular of a particular business entity, but also, in general, of the entire economy of the country. Since the development and increase of financial and economic activities of entrepreneurs leads to an increase in tax payments, an increase in employment, an increase in GDP, etc., which is generally of socio-economic importance throughout the country.
Keywords:
investing, savings, passive income, card al-Hassan, interest-free loan, target loan fund, salam, advance financing, Islamic banks, Islamic finance, halal, riba, garar, usury
